$1,000,000 Traders! | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

$2,000 to $2,000,000... no time limit 158 replies

$1000 to $1,000,000,000 in 4 years 125 replies

Gutenberg money printing machine.. 100 to 1.000 to 10.000 to 100.000? 15 replies

From 10,000 to 4,000,000 during the eight years - EA backtest 18 replies

30.000.000.000 flooding the market! How do you see it? 2 replies

Attachments: $1,000,000 Traders!
Exit Attachments

$1,000,000 Traders!

  • #1
  • First Post: Apr 30, 2007 3:25pm Apr 30, 2007 3:25pm
I'm not there yet but... Where do people with millions of dollars or even one hundred thousand dollars trade? Any thoughts?
  • #2
  • Apr 30, 2007 4:26pm Apr 30, 2007 4:26pm
interactivebrokers ?
  • #3
  • Apr 30, 2007 5:17pm Apr 30, 2007 5:17pm
the only retail broker i would trust 7 figures with is interactive brokers, and even them i would be worried about with that much money. with a big account you'll want to spread your money across many retail brokers, or trade through an institutional broker like goldman sachs or morgan stanely. the major perk of trading with the institutional guys is that they give you inside info, the bigger the account, the more info. to get the really good stuff you have to be moving serious contracts though. but dont expect super tight spreads and no slippage, its the same everywhere you go. when it comes to trading accounts, diversity seems to be the best weapon against major catastrophe, so that is the path i take.
Relax and be happy.
  • #4
  • Apr 30, 2007 7:52pm Apr 30, 2007 7:52pm
I always thought a million dollar account would be like peanuts to Interactive Brokers. Don't they have clients with much larger accounts? Why wouldn't you trust them and how would you define a catastrophe?
Just curious.
  • #5
  • Apr 30, 2007 8:00pm Apr 30, 2007 8:00pm
What's an Interactive Broker?
  • #6
  • Apr 30, 2007 8:24pm Apr 30, 2007 8:24pm
www.interactivebrokers.com
  • #7
  • Apr 30, 2007 10:03pm Apr 30, 2007 10:03pm
What about gain capital pro? they say to qualify you have to have a monthly volume of over 50 million.
  • #8
  • Apr 30, 2007 10:14pm Apr 30, 2007 10:14pm
So Interactive Brokers is where the millionaires trade?
  • #9
  • Apr 30, 2007 10:16pm Apr 30, 2007 10:16pm
Not necessarily. They just have a very respected futures and equities arm. And they leverage ECN technology to boot.

Quoting trader07
So Interactive Brokers is where the millionaires trade?
  • #10
  • Apr 30, 2007 10:51pm Apr 30, 2007 10:51pm
Quoting turk87
Why wouldn't you trust them and how would you define a catastrophe?
if i have a million dollars with a single broker, a platform error like entering an extra zero could cost a million dollars. maybe im just not rich enough, but that risk is too much for me to handle LOL. i do trust IB in every other regard (btw, they are going public soon, grab as much of that stock as you can!!!!). really its all relative to your wealth, i just suggest never open a trading account you are not willing to lose completely.

major catastrophe is anything that can cost me my entire account. platform error, user error, broker error, ya know, all the stuff that goes wrong when trading in real life
Relax and be happy.
  • #11
  • May 1, 2007 12:10am May 1, 2007 12:10am
Quoting aicccia
What about gain capital pro? they say to qualify you have to have a monthly volume of over 50 million.
When have to count leveage 50 million a month is nothing I have some days where I come close to that and their pro platform is only 1pip better. But my understanding is that there going to verible spreads soon if they have not already.
  • #12
  • May 1, 2007 12:53am May 1, 2007 12:53am
Turbokaos who do you trade with?
  • #13
  • Feb 1, 2008 1:39am Feb 1, 2008 1:39am
Quoting trader07
I'm not there yet but... Where do people with millions of dollars or even one hundred thousand dollars trade? Any thoughts?

FXCM has been good to us. There has been a few mistakes but they take good care of us. We were worried as there were a few brokers that could not cover ｂｉｇ drops due to credit restrictions and went belly up. FXCM is well capitalized and has a decent platform. They have a live trading desk just incase the software gives way. Support is available all the time and always within a few seconds especially on chat.

The negative points are that their HK branch is a lot different than their NY, Texas and Sanfran branches. HK limits their account to 1 where US can go down to 0.5. HK does not offer multicurrency accounts such as Euro. HK is hard to understand with the chinese english as well. UK division is a little slow at sending out wires even for gold members. Reporting for US is not available during weekends which is silly as accounting and CFO sometimes want to analyse the week.

Anyways. Choose large capitalized firms like FXCM or Deutche if you are sinking big chunks into a single broker.
  • #14
  • Feb 1, 2008 3:35am Feb 1, 2008 3:35am
Quoting turk87
how would you define a catastrophe?
Just curious.
This comes pretty close.

http://www.cnn.com/2008/WORLD/meast/...age/index.html
  • #15
  • Mar 18, 2013 5:57pm Mar 18, 2013 5:57pm
Hi everybody,
I believe this forum is full of experts.
Let me ask a question.
I installed 3 MT4 platforms and all they have different quotes plus
on Volume indicators different tick amounts.
I am confused what broker to pick up for my live account.
Also I wonder if is there any centralized quotes source.

More to add, these 3 brokers have different patterns.
Thanks for the help.
Better to win one trade a week than to lose many a day.
  • #16
  • Mar 18, 2013 9:37pm Mar 18, 2013 9:37pm
Quoting FXtrader22
Hi everybody,
I believe this forum is full of experts.
Let me ask a question.
I installed 3 MT4 platforms and all they have different quotes plus
on Volume indicators different tick amounts.
I am confused what broker to pick up for my live account.
Also I wonder if is there any centralized quotes source.

More to add, these 3 brokers have different patterns.
Thanks for the help.
in my 7 years of forex career I have never came across to any thing like this, other then 4 hour chart, all chart shud be same, no matter which broker u are using.
  • #17
  • Mar 18, 2013 10:36pm Mar 18, 2013 10:36pm
When you open M5 you may notice differences between open, low, close, high in candles.
Not always but it is.
You just need to pay attention to this stuff.

For example look at M5
forex.com Low at 2:45 is 99.260 March 19
upfx.com Low at 22:45 is 99.280 March 18
different time zones but candles are same with
2 pips difference.
Better to win one trade a week than to lose many a day.
  • #18
  • Mar 18, 2013 11:54pm Mar 18, 2013 11:54pm
Quoting FXtrader22
When you open M5 you may notice differences between open, low, close, high in candles.
Not always but it is.
You just need to pay attention to this stuff.

For example look at M5
forex.com Low at 2:45 is 99.260 March 19
upfx.com Low at 22:45 is 99.280 March 18
different time zones but candles are same with
2 pips difference.
Spread, which is entirely broker dependent, distorts charts.
  • #19
  • Mar 19, 2013 12:14am Mar 19, 2013 12:14am
Quoting FXtrader22
I installed 3 MT4 platforms and all they have different quotes plus
on Volume indicators different tick amounts.
I am confused what broker to pick up for my live account.
Also I wonder if is there any centralized quotes source.

More to add, these 3 brokers have different patterns.
Thanks for the help.
Each broker has his own feed so this is normal that you get different quotes.
MT4/MT5 EAs/Indicators/Alerts coder
  • #20
  • Mar 19, 2013 10:57am Mar 19, 2013 10:57am
I do not think that spread distorts chart since since only bid level is recorded.
I see each broker has different feed.
Just very curious is there any currency centralized price level.
What do these heard sessions like London, NY, Tokyo do?
Do not they centralized price level?
Then from where liquidity providers take the price?
Thanks.
Better to win one trade a week than to lose many a day.
0 traders viewing now